Changes in working capital
Table 1
Export to ExcelYear ended 31 December 2020 |
Year ended 31 December 2019 |
|
---|---|---|
Change in receivables | 199,930 | (298,156) |
Change in receivables from buyers in statement of financial position | (72,339) | (61,346) |
Change in receivables due to financial compensation | 89,757 | – |
Change in other financial receivables | 232,716 | (243,715) |
Reclassification to assets classified as held for sale | (57,946) | – |
Adjustment by the opening balance of the acquired business | – | 3,802 |
Other adjustments | 7,742 | 3,103 |
Change in inventories | (181,433) | (175,408) |
Change in inventories in statement of financial position | (93,063) | (174,351) |
Reclassification to assets classified as held for sale | (81,859) | – |
Adjustment by the opening balance of the acquired business | – | 10,579 |
Adjustment related to transfer of invetories to/from property, plant and equipment | (6,511) | (11,636) |
Change in payables excluding loans and borrowings | 4,942 | (213,341) |
Change in liabilities to suppliers in statement of financial position | 115,174 | (277,110) |
Change in payroll, social security and other financial liabilities | (17,266) | (135,831) |
Change in non-financial liabilities in statement of financial position | 54,485 | 27,597 |
Change in liabilities arising from taxes excluding income tax | (196,145) | 183,347 |
Adjustment of VAT change related to capital commitments | 13,639 | (8,732) |
Reclassification to liabilities directly related to assets classified as held for sale | 57,080 | – |
Adjustment by the opening balance of the acquired business | – | 7,472 |
Other adjustments | (22,025) | (10,084) |
Change in other non-current and current assets | 369,501 | (1,121,021) |
Change in other current and non-current non-financial assets in statement of financial position | 110,042 | (28,883) |
Change in receivables arising from taxes excluding income tax | 102,041 | (174,968) |
Change in non-current and current CO2 emission allowances | 280,723 | (287,787) |
Change in non-current and current energy certificates | (36,477) | (602,337) |
Change in advance payments for property, plant and equipment and intangible assets | (63,950) | (22,460) |
Reclassification to assets classified as held for sale | (23,822) | – |
Adjustment by impairment losses on other non-financial assets | 2,845 | (5,577) |
Adjustment by the opening balance of the acquired business | – | 7,089 |
Other adjustments | (1,901) | (6,098) |
Change in deferred income, government grants and accruals | (47,852) | (70,938) |
Change in deferred income, government grants and accruals in statement of financial position | (79,770) | 5,141 |
Adjustmet related to property, plant and equipment and intangible assets received free of charge |
(12,583) | (19,460) |
Adjustment related to subsidies received and refunded | (59,669) | (56,069) |
Reclassification of accruals and government grants to assets classified as held for sale | 108,895 | – |
Other adjustments | (4,725) | (550) |
Change in provisions | (456,426) | 955,263 |
Change of short term and long term provisions in statement of financial position | (437,468) | 1,354,186 |
Adjustment related to actuarial gains/losses from provisions for post-employment benefits charged to other comprehensive income |
(140,992) | (140,320) |
Adjustement related to provisions recognized in correspondence with property, plant and equipment |
(8,771) | (196,823) |
Reclassification of provisions to liabilities directly related to assets classified as held for sale |
123,832 | – |
Adjustment by the opening balance of the acquired business | – | (60,875) |
Other adjustments | 6,973 | (905) |
Total | (111,338) | (923,601) |
Income tax paid
In the year ended 31 December 2020, income tax paid amounted to PLN 60,146 thousand. The Tax Capital Group paid advance income tax payments for 2020 in the amount of PLN 287,300 thousand and received a net inflow from income tax settlements for previous years in the amount of PLN 244,414 thousand, which in total resulted in a net outflow of income tax paid by the Tax Capital Group in the amount of PLN 42,986 thousand.
In the year ended 31 December 2019, income tax paid amounted to PLN 423,736 thousand. The Tax Capital Group paid PLN 424,096 thousand of income tax, which results from the payment of advance income tax payments for 2019 in the amount of PLN 442,525 thousand and income tax settlements for previous years resulting in a net inflow of PLN 18,429 thousand.
The significant impact on the decrease in income tax paid in 2020 compared to the previous year is due to the fact that in 2020 the Tax Capital Group paid fixed monthly advance payments of income tax determined on the basis of the 2018 tax return, whereas in 2019 the Tax Capital Group paid monthly advance payments determined on the basis of the monthly income tax return.